Investment firm .406 Ventures hopes to raise its
batting average by leading a new $12 million Series B
round for online video publishing technology developer Digitalsmiths Corp., intended to support continued product development and customer adoption. The new money builds on a $6 million Series A round
announced in June 2007 and a $1 million
seed round the previous year. Digitalsmiths had previously raised funds exclusively from regional investors, including The Aurora Funds and Chrysalis Ventures.
Digitalsmiths' picture and audio analysis software automatically scans digital video for content traits, creating a searchable index that can be used for archiving and retrieval as well as targeting relevant ads. The company targets Hollywood studios and other production houses as customers, and recently won over gossip site TMZ.com, a former customer of well-funded rival Brightcove Inc.
.406 Ventures also
backed video management platform developer Kaltura Inc. in a round of undisclosed size in summer 2008.
-- Paul BonanosSee Nov. 13 press release from Digitalsmiths
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Its really good to hear that 12M $ are spent on the enhancements of video indexers. Day by day the technology is rapidly growing and such kind of high end tools are very useful to have high quality picture resolutions.